NZD/USD trades in the green on a week-to-date basis despite the pullback from session highs. The pair has charted a descending triangle on the daily chart. NZD/USD is currently trading largely unchanged on the day at 0.6478, having put in an eight-day high of 0.6493 early Thursday. However, on a week-to-date basis, the pair is still up nearly 1%. These gains confirm or validate the positive view put forward by the inverted bullish hammer created last week. In addition, the 14-day relative strength index is reporting bullish conditions with an above-50 print. As such, one may expect NZD/USD to breach the daily chart descending triangle on the higher side. That would imply a continuation of the rally from the May 15 low of 0.5921 and open the doors to January’s high of 0.6733. At press time, the upper end of the descending triangle is located at 0.6495. A close above that level would confirm the bullish breakout. On the downside, the June 30 low of 0.6385 is the level to beat for the sellers. Daily chart Trend: Bullish above 0.6495 Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD to test 1.15 in the next 12 months – Reuters Poll FX Street 3 years NZD/USD trades in the green on a week-to-date basis despite the pullback from session highs. The pair has charted a descending triangle on the daily chart. NZD/USD is currently trading largely unchanged on the day at 0.6478, having put in an eight-day high of 0.6493 early Thursday. However, on a week-to-date basis, the pair is still up nearly 1%. These gains confirm or validate the positive view put forward by the inverted bullish hammer created last week. In addition, the 14-day relative strength index is reporting bullish conditions with an above-50 print. As such, one may expect NZD/USD to breach… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
